Geo-Jade Petroleum Acquires Bankers Petroleum

Geo-jade Petroleum is a fast-growing oil and gas exploration and development enterprise. The company has started in oil & gas investment since 2010 and by its good financial strength, strong R&D capacity and extensive business network, it is now independently operating 6 exploration blocks and 3 development blocks, with a total acreage of nearly 30,000 square kilometers and an annual oil output more than 500,000 tons (equivalent to 10,000 bbls/d). With newly acquired Project Kozhan, its annual output is estimated to be increased to over 13,000 bbls/d by the end of 2015 end and pro forma 2P reserves was over 210 mmbblby the end of 2014. Geo-Jade Petroleum was founded in 1984 and is based in Beijing, China.